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The Johan Sverdrup Oil Field development has been given the green light and major contracts have been awarded. Johan Sverdrup is among the largest oil fields on the Norwegian shelf, and will at peak contribute with 25% of the production from the Norwegian shelf.

Summary Information

Estimated Reserves: The field is estimated to hold between 1.6 and 1.85 billion barrels of oil equivalent

Production Volume:

Description

This discovery was rated one of the world’s top five finds in 2009 by HIS, and is the largest discovery ever made in Venezuela

The field is located 50 miles offshore in shallow water of the Gulf of Venezuela

The production facilities will be comprised of offshore structures, trees, controls, offshore processing, subsea flowlines, export pipelines, the shore approach and utilities facilities from the wellheads to an onshore gas plant, and tie-in to an existing gas and condensate pipeline system.

The early production plant, will deliver 150 million standard cubic feet per day of gas. It is expected to be operational by the fourth quarter of 2014 and

Contractors

Supervising the engineering, procurement and construction contractors and the procurement of long-lead equipment

Saipem: Transportation and installation of an hub platform and two satellites platforms, of a 30-inch diameter and 67-kilometres-long offshore export pipeline, of two 14-inch diameter clad infield flowlines and other infield cables, along with the related tie-in operations

Vepica: Pre-FEED and FEED services for the early development of production facilities

Valerus:

Engineering and procurement of the simplified early production plant

Engineering, procurement and construction for a natural gas conditioning and condensate stabilization facility

History

2009 - The Perla Gas field is discovered

2010 - Further successfully drilling lead to reserve upgrades

2011 - A Gas Sales Agreement (GSA) was signed enabling for the commercial development of the field

2013 - Foster Wheeler awarded PMC contract

2014 - The second well discovers extra reserves

2014 - Agreement signed for development

2015 - First gas produced

Geology

The reservoir consists of Mio-Oligocene age carbonates with excellent characteristics, located at approximately 3,000 meters below sea level, at a water depth of 60 meters.

Other Information

The early production phase includes the utilization of the already successfully drilled wells and the installation of four light offshore platforms linked, through a gas pipeline, to a Central Processing Facility (CPF) located onshore. The development of Perla will then continue with the full field phase which includes additional producer wells and the CPF upgrade to reach a plateau production of 1,200 million scf per day.